A win-win for India & Indian Americans
Between the extremes of migration and reverse migration, is a tangible space for collaboration between India and the diaspora in the US
If you have watched the movie Swades, you might remember a scene where NASA scientist Mohan Bhargav, Shah Rukh Khan’s character, is introduced to members of the village panchayat. In this delightful exchange, Mohan struggles to explain his work in the Global Precipitation Measurement project at NASA, which helps forecast extreme weather events and assess the global climate. When his nanny manages to simplify the explanation for the village elders, Mohan is told with a laugh and scoff that one of the villagers does this regularly. At which point, the said villager looks up at the sky, sees it is clear, and lets the village know that it will likely not rain that day. An amused Mohan agrees he does the same at NASA.
Eventually, Mohan decides to use his knowledge and skills to build a hydroelectric power generation facility for the village. This is not the typical Indian American story one sees play out routinely. One is more accustomed to hearing stories of brain drain, of those who leave to pursue the American Dream and never look back. Yes, Khan’s character eventually decides to move back to India, but between the extremes of migration and reverse migration is a tangible space of impact and influence that can and should be tapped into to the benefit of both countries.
The success of the 5.1-million-strong Indian American community perhaps belies its numerical strength. Despite representing 1.5% of the population of the United States (US), this community contributes 6% to its taxes. From politics, corporate leadership, entrepreneurship, and innovation to cultural influence, the diaspora continues to impact the everyday lives of millions in the US. If you have been following the news on the US presidential elections, you would be aware of the Indian American moment it’s been having recently. From Vivek Ramaswamy, Nikki Haley, Usha Vance, and now the presumptive Democratic party presidential nominee, Kamala Harris. Indian Americans are establishing themselves across administrative levels as senators, representatives, and mayors.
Indian-origin CEOs head 16 Fortune 500 companies that employ approximately 2.7 million Americans and generate more than $1 trillion in revenue. The economic impact of Indian Americans extends beyond big business to the startup world as well, co-founding 72 out of 648 US unicorns operating in 2024. Research, innovation, and academia in the US have provided a platform for the community to contribute further. Between 1975 and 2019, the share of US patents with Indian-origin innovators jumped from around 2% to 10%. Through art, food and festivals, Indian Americans have also fostered a greater understanding and appreciation of Indian culture in the US.
Over time Indian Americans have gained skills and experience and built networks that can become the foundation for fostering meaningful knowledge transfer and innovation in India. Some of this is already underway in different shapes and forms. Nearly 25%, i.e., 28 of the 114 unicorns in India in 2023, have US-educated founders, with a combined valuation of $59 billion. Philanthropic grants from the US make up nearly 35% of all donation inflow to India from the rest of the world. During Covid, Indiaspora, a US-based nonprofit community of global Indian leaders, raised $15 million to help fellow Indians. The US is the top source of global remittances to India, with nearly $26 billion in remittances in 2022-23.
It is apparent that the two countries share a strategic partnership based on shared values. They can therefore build on the solid foundation of collaboration that already exists between them to further advance their mutual interests. As India looks to become a developed nation, Viksit Bharat, by 2047, the 100th year of its Independence, the diaspora can play an important role in realising India’s vision. Sustained engagement between this community and India is crucial for addressing the nation’s challenges and driving inclusive growth. The Indian government’s recent policy measures aim to ensure that the benefits of economic growth reach all sectors and all sections of society, and the Indian American community is uniquely positioned to complement these efforts.
Going back to Swades for a moment, the village elders’ comical oversimplification of Mohan’s job notwithstanding, throughout the movie his character tries to work with the community to make their lives better, in big and small ways. His worldview shifts from being patronising to empathetic and finally pragmatic about how he can bring about meaningful change from his vantage. The larger Indian community around the world embodies this Vasudhaiva Kutumbakam spirit.
MR Rangaswami is founder & chairman, Indiaspora. Neeraj Aggarwal is chair, Asia-Pacific, The Boston Consulting Group (BCG). Sesh Iyer is North America Regional Chair, BCG X. The views expressed are personal
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